Global Hams Market to Reach US$ 47 Bn by 2030, Health Concerns in Meat Processing Industry During Covid-19 Crisis to Limit Opportunities
Ham producers are increasingly seeking improvements in meat preservation techniques to generate better production and logistics outcomes in reducing volatility arising from the pandemic.
ROCKVILLE, MD / ACCESSWIRE / September 1, 2020 / The hams market is expected to display a moderate growth rate during the assessment period ranging between 2020 and 2030 to reach a valuation of US$ 47 billion. The coronavirus pandemic is expected to have a large-scale impact on the industry. Suspension of operations for businesses in the food service industry has resulted in a major slump in the demand for ham. Also, the meat processing industry has been plagued by coronavirus outbreaks, with poor working conditions, further hurting short term prospects.
“The rising consumption of ready to cook and ready to eat meals, especially among millennials are expected to provide impetus to the hams market. Also, producers are also expanding their portfolios with ready to cook premixes which will contribute to product demand in the long term,” says the FACT.MR report.
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Hams Market- Key Takeaways
- Wet cured hams contribute significantly to overall revenues, owing to lower production and sales costs, mass production and applications in multiple foods.
- Retail outlets such as supermarkets and hypermarkets hold major share in terms of ham sales owing to a wider range of product availability.
- North America remains a major market for ham, supported by consumer bias towards processed meats, and high protein diets.
Hams Market- Driving Factors
- Efforts towards widening flavoring and nutrition options of ham products with a growing range of herbs, and marinades is supporting the sales of hams.
- Rising adoption of organic animal husbandry provides key growth opportunities for ham producers.
Hams Market- Major Restraints
- Rising concerns over the health impacts of red meat consumption remain a major obstacle to sales.
- Strict regulations over quality and preservatives used in cured meats restrict production and adoption of hams.
COVID-19 Impact on Hams Market
The impact of the coronavirus pandemic has largely been negative on the global hams market. Reduced demand arising from the closure of many food service businesses during lockdowns, coupled with virus outbreaks in ham processing plants in multiple regions around the world has hurt market prospects. The continuing effects of the US China trade war have also compounded issues during the crisis period. However, demand for processed foods for home cooking has generated demand among retailers. Online channels of distribution have been essential to sustain limited sales during this period.
Explore the global Hams market with 232 figures, 254 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4827/hams-market
Competitive Landscape
JBS SA, Hormel Foods Corp., Tyson Foods Inc., Vion N.V., Yarun Food Group, and Smithfields Foods Inc. are some of the leading players participating in the hams market.
Major players in the hams market are pushing for expansion of production capacities keeping up with demand for ham in North America and Asian hams markets through introduction of new factories or alternatively through strategic acquisitions.
For example, JBS S.A. has entered an agreement to acquire Frigorifico Marba a cold meats business to widen the portfolio of branded products including cold ham cuts. Tyson Foods announced the opening of a pork processing plant in Logansport in May 2020. Further, Plumrose USA has announced its intentions to invest US$ 200 million for a new factory for ready to eat products including bacon and tinned ham among others.
About the Report
This study offers readers a comprehensive market forecast of the hams market. Global, regional and country-level analysis of the top industry trends impacting the hams market is covered in this FACT.MR study. The report offers insights on the hams market on the basis of nature of form (fresh and frozen), process (air dried cured hams, and smoked hams), buyer (food processors & manufacturers, HoReCa, and residential buyers) and sales channel (supermarket/hypermarket, independent retailers, convenience stores, specialist retailers, and online retailers) across ten regions (North America, Latin America, Europe, China, Japan, South Korea, South East Asia, India, Oceania, and MEA).
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